Investment & Fund Management

Vardan Babayan faced significant challenges as a refugee, having fled Armenia during a period of internal strife and subsequently experiencing unemployment for a year in Florence, Italy. Rejected by local banks, he struggled to find financial support to start his own business. His situation changed when he discovered PerMicro, a microcredit company that provides financial resources to micro-entrepreneurs in Italy. With the assistance of branch manager Francesca di Giuseppe, Babayan secured a loan of EUR 25,000.

This funding enabled him to establish Ararat Le Bracerie, a bio-grill café that offers traditional Armenian cuisine in a city known for its culinary culture. Babayan described the café as his opportunity to create a "little corner of Armenia in Italy," emphasizing the importance of this venture for his sense of belonging and identity. The café not only provided him with a livelihood but also contributed to the local community by creating jobs and enhancing cultural diversity through the introduction of Armenian food.

The specific outcome of Babayan's endeavor illustrates the impact of targeted microfinance solutions in empowering refugees and fostering entrepreneurship, ultimately enriching the local economy and community.